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Quarter 1 2023, Macro Review | Georgian economy moves ahead, but fears of global headwinds mar the start of 2023
03 July 2023

The global economy remains in a volatile state amid the prolonged effects of the combined negative shocks of the pandemic, Russia’s invasion of Ukraine, high inflation, and the tightening monetary policy. Although the global economy remained resilient at the beginning of the year, the situation is expected to worsen.

January 2022 GDP Forecast | Georgian economy continues to recover from covid-19 impact, but inflation threatens stability as food prices soar by 17.7 percent
17 January 2022

Recently, Geostat revised upward its real GDP growth for the third quarter of 2021 to 9.1% (by 0.1 ppt). The real GDP growth rate amounted to 12% year-on-year for November 2021. Consequently, the estimated real GDP growth for the first eleven months of 2021 was 10.7%.

Quarter 3 2021 Macro Review | Quarter 3 reality check for Georgia: low vaccination rates, higher inflation and tepid FDI emerge as new challenges
20 December 2021

The global economy continues to recover in Q3 2021 following the deep economic crisis caused by the COVID-19 pandemic. The growth accelerated as a result of the easing of virus- containment restrictions in most countries. According to the IMF forecast (October 2021), global GDP will grow 5.9% year over year (y/y), which is a downward adjustment from the previous estimate of 6% (July 2021).

Lead ISET Policy Institute Economist participates in UNDP panel discussion for municipal development
02 June 2021

We were thrilled to see Salome Gelashvili, head of the ISET-PI Agricultural Policy Research Center (APRC), actively participate in a UNDP Georgia online discussion. During the virtual roundtable (entitled Local Economic Development and Business Friendly Environment for Municipalities), a variety of notable international speakers, particularly utilizing Czech expertise, came together to consider business development, combatting the rural-urban divide, and the effect of COVID-19 on the informal sector.

Inflation of Trust
12 April 2021

World economies hampered by the pandemic; countries facing public healthcare crises, with millions killed by COVID-19; thousands of cities under lockdown; social distancing and transformed social practices; countless institutions functioning online; the youth spending endless days and nights in front of computer screens; and, globally, over a year of online education. This is the reality in many countries around the world, including Georgia, in the spring of 2021.

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